Are advisers being put out of a job?

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Generations X and Y are more technologically savvy and opening up SMSFs at a faster rate than the post-war baby boomers before them.

There has been a distinct rise in DIY investors, but OneVue CEO Connie McKeage says this is not a new threat, just one that has been hidden from advisers so far.

The new investors are providing a tremendous opportunity, says McKeage, which requires more than simply using social media.

"The reality is that most consumers will transact, once you've built loyalty around the education, once they understand what they’re doing, and that’s an investment over time."

Watch her full interview on WP TV here.

  • Steve on 13/08/2013 7:21:12 PM

    Innocent Observer - FP strategies are very basic. Growth funds over time, protect yourself etc etc etc. all im saying is the game has changed in a major way especially since post GFC & advisers still feeding on meat & 3 Veg like theyve done for decades wont cut it. Clients will leave you.wont happen overnight but it will happen.

  • Innocent Observer on 13/08/2013 11:28:32 AM

    Steve, you've obviously had a bad experience in the past. Fact is that the overwhelming majority of clients with advisers (and I don't mean the name that appears on the top of a statement, but actual advisers) find themselves with a distinct advantage over those without advisers. Part of this is due to the selection process most of us use (such as, if we can't add significant value then we won't take the person/business on as a client). "Old hat" or not, we use what is available to us to provide the best outcome for our clients. If this isn't enough to entice you then that's fine - chances are you would fall into the aforementioned category who we (and many other advisers) would feel unable to add significant value.

  • Steve on 13/08/2013 10:47:32 AM

    I have seen this progress and grow since the late 90's. Advisers are on notice. No longer can you focus on being a nice guy and outsource your investment returns to fund managers, anyone can do that. Your tax saving strategies are old hat, your risk scaremongering is ancient. YOU need to change and give the investor something they cant get online and hand holding with a birthday card and a lame review each year isnt going to cut it now days. You will see clients leaving you, slowly at first but then in some numbers. But you have noticed this already havent you. If your still using managed funds and considered a big hitter by the bdms out there then your days are numbered.

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